Chicago, March 29 – BofA Finance LLC priced $1 million of contingent income autocallable yield notes due Feb. 29, 2024 tied to the stocks of Domino’s Pizza, Inc., Target Corp. and United Rentals (North America), Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at the rate of 16.65% per year if each stock closes at or above its coupon barrier level, 65% of its initial level, on the observation date that period.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly call determination date after six months.
If the lowest-performing stock finishes at or above its downside threshold level, 55% of its initial level, the payout at maturity will be par plus any final coupon. If the lowest-performing stock finishes below its downside threshold level, investors will be fully exposed to the decline of the lowest-performing stock from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying stocks: | Domino’s Pizza, Inc., Target Corp. and United Rentals (North America), Inc.
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| Amount: | $1 million
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| Maturity: | Feb. 29, 2024
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| Coupon: | 16.65% per year, payable monthly if each stock closes at or above coupon barrier level on any observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold level, par; if any stock finishes below downside threshold level, full exposure to decline of lowest-performing stock from its initial level
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| Call option: | At par if each stock closes at or above its initial level on any quarterly call determination date after six months
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| Initial levels: | $346.51 for Domino’s, $183.44 for Target and $297.38 for United Rentals
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| Coupon barriers: | $225.23 for Domino’s, $119.24 for Target and $193.30 for United Rentals; 65% of initial levels
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| Downside threshold levels: | $190.58 for Domino’s, $100.89 for Target and $163.56 for United Rentals; 55% of initial levels
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| Pricing date: | Feb. 26
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| Settlement date: | March 3
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| Agent: | BofA Securities, Inc.
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| Fees: | 1%
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| Cusip: | 09709UDA3
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